The author is an Assistant News Editor at Profit by Pakistan Today. His works have been published in Dawn, Express Tribune, LiveMint India, Huffingtonpost India and The News on Sunday. He tweets @MohammadFarooq_
EconomyImport growth declined to 5.8% during the first four months (July-October) of FY19 from 26.3% in the same period of last year, indicating an effect of recent tightening measures.
EconomyRupee drops to lowest value ever against US dollar at Rs144 in intra-day trading before SBP intervenes to raise it to Rs136.5-137.5 at market close
EconomyFitch Solutions projected LCV sales in Pakistan to average annual growth of 8.7% over FY19-FY22, reaching a total of around 40,400 units by the end of FY22
HeadlinesJohnson and Phillips have a market capitalization of Rs343.90 million and counts itself amongst the first foreign company to have opened an office in Pakistan after independence in August 1947
HeadlinesIn July, UBL had been directed by Federal Reserve Bank of New York (FRBNY) to strengthen its anti-money laundering policies as the regulator criticized it for not doing enough to track dubious transactions
EconomyThe projected decline in sugar production has been attributed to a reduced area as farmers shifted to other crops like cotton and corn because of better prices and faster return on their investment
EconomyFashion ranks as the top online purchased category in Pakistan at 40%, followed by travel 31% and IT 29% respectively
EconomyAn analyst pointed out a discrepancy between projections of Fitch Ratings and Fitch Solutions of 40 basis points in GDP growth, i.e. 5% and 5.4% respectively
EconomyIn the first four months (July-October) of current FY19, current account deficit has fallen by 4.6% year-on-year (YoY) to $4,840 million
EconomyMoody’s stated the share of foreign currency debt is relatively low at approximately 35% of total government debt
EconomyGNL will be responsible for the import, distribution and after-sales service of the three new ranges and also the CKD assembly at its manufacturing site located at Port Qasim, Karachi by the end of next year
HeadlinesUnited Bank Limited and Lucky Cement have been removed from the MSCI Global Standard Index Pakistan and have been demoted to MSCI Global Small Cap Indexes